Voya Investment Management LLC Sells 96,758 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Voya Investment Management LLC trimmed its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 83.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,855 shares of the technology company's stock after selling 96,758 shares during the period. Voya Investment Management LLC's holdings in Pegasystems were worth $1,850,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its position in shares of Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after purchasing an additional 167 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Pegasystems by 85.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock worth $30,000 after buying an additional 149 shares during the period. Global Retirement Partners LLC increased its position in shares of Pegasystems by 48.0% in the fourth quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after acquiring an additional 256 shares in the last quarter. Covestor Ltd raised its holdings in shares of Pegasystems by 75.0% during the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock valued at $140,000 after acquiring an additional 640 shares during the period. Finally, KBC Group NV lifted its position in shares of Pegasystems by 28.6% in the 4th quarter. KBC Group NV now owns 1,791 shares of the technology company's stock valued at $167,000 after acquiring an additional 398 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company's stock.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 7,742 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $84.72, for a total value of $655,902.24. Following the sale, the chief financial officer now directly owns 14,466 shares in the company, valued at $1,225,559.52. This represents a 34.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 500 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $93.50, for a total transaction of $46,750.00. Following the completion of the sale, the chief accounting officer now owns 500 shares in the company, valued at $46,750. This represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,262 shares of company stock worth $10,408,152 over the last quarter. Company insiders own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

PEGA has been the subject of a number of research analyst reports. Wedbush restated an "outperform" rating and issued a $125.00 target price on shares of Pegasystems in a report on Thursday, April 24th. Loop Capital restated a "buy" rating and set a $105.00 price target (up from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Royal Bank of Canada increased their target price on shares of Pegasystems from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. JMP Securities restated a "market outperform" rating and set a $110.00 price target on shares of Pegasystems in a report on Thursday, February 13th. Finally, Barclays reiterated a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $100.27.

Pegasystems Stock Down 1.1 %

Shares of PEGA stock traded down $1.05 during trading hours on Friday, reaching $92.91. 195,740 shares of the company's stock were exchanged, compared to its average volume of 696,118. Pegasystems Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $113.67. The stock has a market capitalization of $7.95 billion, a P/E ratio of 91.99 and a beta of 1.14. The business has a fifty day moving average price of $75.64 and a 200-day moving average price of $86.78.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, research analysts expect that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.06%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is presently 5.83%.

Pegasystems Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.